Language Page 665, after line 4, insert:Effective for taxable years beginning on and after January 1, 2025, for the purposes of the tax income subtraction authorized in § 58.1-322.02 of the Code of Virginia the term "uniformed services" shall be defined using the definition in 10 USC 101(a) which includes members of the (A) the armed forces; (B) the commissioned corps of the National Oceanic and Atmospheric Administration; and (C) the commissioned corps of the Public Health Service.
Page 665, after line 4, insert:
Effective for taxable years beginning on and after January 1, 2025, for the purposes of the tax income subtraction authorized in § 58.1-322.02 of the Code of Virginia the term "uniformed services" shall be defined using the definition in 10 USC 101(a) which includes members of the (A) the armed forces; (B) the commissioned corps of the National Oceanic and Atmospheric Administration; and (C) the commissioned corps of the Public Health Service.
Explanation
(This amendment expands the tax exemption provided for military retirees to include retirees from the commissioned corps of the National Oceanic and Atmospheric Administration; and the commissioned corps of the Public Health Service. It is estimated this would reduce tax revenues by $779,700 annually.)